F seems to have traced out a "5" wave move from the 6/10 highs to yesterday's lows and in so doing has potentially started the larger degree correction move down toward $11.90, if not $9.25, depending on how important that January high is.

For now, given this small degree "5" wave move down, I have moved my confidence rating to "High" from "Medium" and the analysis suggests that the recent high of $15.65 from $16.24 is the area to re-evaluate the action.

The risk / reward seems skewed to the downside based on the analysis (not advice)

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